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Rising Adoption Of Electric Vehicles Boosts Automotive Electric Drivetrain Components Market Driver: A Major Catalyst in the Evolution of the Automotive Electric Drivetrain Components Market in 2025
Automotive Electric Drivetrain Components Market
The surge in electric vehicle usage is anticipated to significantly contribute to the expansion of the automotive electric drivetrain components market. An electric vehicle, which can be fully charged from an external energy source, is a zero-emission vehicle equipped with an internal electrical energy storage system. The electric drivetrain components in such a vehicle convert electrical energy into mechanical energy, propelling the vehicle's wheels. For example, the U.S. Energy Information Administration reported in November 2023 that battery-electric vehicles (BEVs) were responsible for 17.7% of new light-duty vehicle sales in the third quarter of 2023. This is a significant increase from the 12.5% in 2022 and 9.0% in 2021. Additionally, BEVs accounted for 16.0% of all new vehicle sales to date in 2023. Consequently, the rise in battery electric vehicle use is fueling the expansion of the automotive electric drivetrain components market.
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What Is the projected market size and growth rate for the automotive electric drivetrain components market?
Over recent years, the size of the automotive electric drivetrain components market has surged dramatically. Forecasts project its escalation from $63.66 billion in 2024, to an increased value of $79.63 billion in 2025, with an annual compound growth rate (CAGR) at 25.1%. Various interconnected factors have fueled this expansion during the previous periods, including governmental regulations on emission levels, a surge in consumer preference for eco-friendly vehicles, a drop in the cost of batteries, enhancements in power electronics, and considerable investments into charging infrastructures.
In the coming years, the automotive electric drivetrain components market is projected to witness substantial growth, escalating to $185.53 billion by 2029 at a compound annual growth rate (CAGR) of 23.5%. This growth trajectory during the forecast period can be linked to swift technological progress, government regulations advocating zero-emission vehicles, advancements in battery chemistry, the automotive industry's emphasis on electrification, and a transition towards e-mobility solutions. The forecast period will also see vital trends like improved energy density in batteries, the introduction of integrated vehicle-to-grid (v2g) technology, adaptive thermal management measures, customizable user interfaces and connectivity, as well as upgraded vehicle-to-vehicle (v2v) communication.
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What new trends are reshaping the automotive electric drivetrain components market and its opportunities?
A prominent trend emerging in the automotive electric drivetrain components market is product innovation. Major players in the market are focusing on creating innovative products to maintain their market position. For example, Volkswagen, a vehicle manufacturing company based in Germany, rolled out an enhanced electric vehicle drivetrain APP550 in April 2023. The upgraded APP550 rear-wheel drive units provide superior performance and increased vehicle efficiency. Additionally, the heat management system has been optimized for even greater efficiency. This system can monitor its own temperature using the transmission's gear wheels.
What major market segments define the scope and growth of the automotive electric drivetrain components market?
The automotive electric drivetrain components market covered in this report is segmented -
1) By Components: Electric Drive Module, DC Or DC Converter, Battery Packs, Thermal System, DC Or AC Inverter, Power Distribution Module (PDM), Other Components
2) By Vehicle: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
3) By Sales Channel: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By Electric Drive Module: Integrated Electric Drive Systems, Electric Motor Assembly
2) By DC Or DC Converter: Step-Up Converters, Step-Down Converters
3) By Battery Packs: Lithium-Ion Battery Packs, Solid-State Battery Packs, Nickel-Metal Hydride (NiMH) Battery Packs
4) By Thermal System: Cooling Systems, Heating Systems, Thermal Management Components
5) By DC Or AC Inverter: Dc To AC Inverters, Multilevel Inverters, Grid-Tie Inverters
6) By Power Distribution Module (PDM): Battery Management Systems (BMS), Power Routing Modules
7) By Other Components: Electric Power Steering (Eps) Systems, Regenerative Braking Systems, Control Units And Software
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Which region dominates the automotive electric drivetrain components market?
Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electric drivetrain components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the automotive electric drivetrain components industry growth?
Major companies operating in the automotive electric drivetrain components market include Volkswagen AG, Robert Bosch GmbH, Siemens AG, Panasonic Corporation, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Hyundai Mobis, Magna International Inc., Aisin Seiki Co. Ltd, Valeo SA, Eaton Corporation PLC, Hitachi Astemo Ltd., Parker Hannifin Corporation, Schaeffler AG, Nidec Corporation, BorgWarner Inc., MAHLE GmbH, Infineon Technologies AG, Marelli Holdings Co. Ltd., Dana Incorporated, Hexagon AB, GKN Automotive Limited, JATCO Ltd., Delphi Technologies, The Johnson Electric Group, AVL List Gmbh, Univance Corporation, Hofer Powertrain GmbH
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What Is Covered In The Automotive Electric Drivetrain Components Global Market Report?
• Market Size Forecast: Examine the automotive electric drivetrain components market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive electric drivetrain components market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive electric drivetrain components market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive electric drivetrain components market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive electric drivetrain components market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive electric drivetrain components market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive electric drivetrain components market.
• Competitive Landscape: Review strategic developments in the automotive electric drivetrain components market, including expansions, agreements, and new product launches.
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